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May 15, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Cincinnati, Business Loans > Fifth Third Bank Cincinnati Business Loans > Building Finishing Contractors Loan | ||||
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SBA Loan from Fifth Third Bank
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SBA Loan from Fifth Third Bank Helps Building Finishing Contractors CompanyFifth Third Bank has a track record as a leading provider of SBA loans. Find out how this Ohio entrepreneur received an SBA loan from them. This small firm knew how to go about getting a business bank loan. Based in Miamisburg, Ohio, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Fifth Third Bank, based in Cincinnati, Ohio. SBA Loan Borrower COMPANY TYPE: BUILDING FINISHING CONTRACTORS SBA Loan Lender FIFTH THIRD BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 238390 - Building Finishing Contractors Loan Approval Date 3/29/2005 Loan Approval Gross Amount $240,000 Loan Approval from the SBA Of the total $240,000 loan amount, the SBA guaranteed $180,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 12 employees. The loan application indicated that the loan would help retain 12 existing jobs. Next Steps for Getting an SBA Loan If you are working on finding money to start a business in Miamisburg OH, you ought to talk with a local Miamisburg SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Miamisburg businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: SBA 7A Lenders in Cincinnati, Ohio
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